Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-02-17-Speech-4-016"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2000-02-17"^^xsd:date2
dcterms:Is Part Of	lp_eu:UCITS2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20000217.2.4-016"2
lpv:hasSubsequent	lp_eu:2000-02-17-Speech-4-0172
lpv:speaker	lp:Theresa Villiers2
lpv:spoken text	"Mr President, this is a vital issue for Europe. A Europe that faces an impending pensions time bomb must take every step to encourage saving and maximise the return that the people of Europe can obtain on their savings. I welcome many of the developments which Mr Schmidt’s report brings us. UCITS are a success story within the European Union. They are a safe product, traded cross-border. But it is time for the legislation to be updated. Mr Schmidt has done an excellent job here. It is no secret that I would have much preferred Mr Schmidt’s report not to have been altered so much as it passed through Parliament. But I appeal to this House to take a balanced and common-sense approach on this issue. The radical step taken by this report is to allow UCITS to use over-the-counter derivatives. I appeal to everyone here to evaluate the products which will be used by UCITS. We are not talking about the use of derivatives for speculation. We are talking about the use of derivatives to reduce risk and to increase the returns on the savings of ordinary Europeans. Mr Schmidt is to be applauded for having obtained the support of Parliament for over-the-counter derivatives. We must not be afraid to go forward, to react to changes in the market. Yes, we need to continue to ensure that UCITS provide a balanced and protected product for consumers. The report gives very adequate protection for consumers. But a number of the amendments go too far in restricting the use of over-the-counter derivatives. I feel these derivatives will be an addition to the portfolio of unit trusts, which can only help individual people around Europe obtain a high return on their savings. I salute Mr Schmidt."@en1
lpv:spokenAs	member; Committee on Women's Rights and Equal Opportunities (1999-07-21--2000-03-29)3 member; Delegation for relations with the countries of South Asia and the South Asia Association for Regional Cooperation (SAARC) (1999-10-06--2002-01-14)3 member; ECON (1999-07-21--2002-01-14)3 member; EPP-ED (1999-07-20--2004-07-19)3 unknown; Conservative and Unionist Party (1999-07-20--2004-07-19)3 substitute; Committee on Legal Affairs and the Internal Market (1999-07-21--2002-01-14)3
lpv:unclassifiedMetadata	"Villiers (PPE-DE )."1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph